fiscal cliff


noun

a governmental or personal financial crisis that is brought on by economic factors or policies: High housing costs have pushed many families over the fiscal cliff. Some municipalities are on the edge of a fiscal cliff after years of overspending.
(specifically) a financial crisis that threatens to disrupt the economy or personal finances and is brought on by steep governmental spending cuts and tax increases: Congressional legislation to avert the fiscal cliff.

QUIZZES

HEED THE VOX POPULI, AND TAKE THIS WORD OF THE DAY QUIZ!

Test your memory on these verbal firecrackers from the week of June 29 to July 5!
Question 1 of 7
anchorite

Origin of fiscal cliff

First recorded in 1950–55
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2020

Example sentences from the Web for fiscal cliff

British Dictionary definitions for fiscal cliff

fiscal cliff

noun

informal a situation in which sudden changes in government expenditure and taxation have a profound effect on a country's economy
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012